SFLA - Sentiment Stumbles On Second Wave
After cheering reopening progress at the outset of the month, investors took a breath as coronavirus outbreaks in several states threatened the economic recovery.
There is a fair amount of data that suggests the US economy is on the mend: The latest retail sales, consumer spending, durable goods orders, and personal income readings have all trounced analyst expectations. But there is likely still a long road ahead. To quote Fed Chair Jerome Powell, "the levels of output and employment remain far below their pre-pandemic levels, and significant uncertainty remains about the timing and strength